U.S. Chain-Store Sales +3%

RAPAPORT...
U.S. chain-store sales rose 3.2 percent year on year for the week that ended on April 14, according to the International Council of Shopping Centers (ICSC) and Goldman Sachs. Week-to-week comparable-store sales, however, fell by 1 percent, in large part due to post-Easter doldrums.

"With the Easter holiday beginning (April 8), it is not surprising that seasonal apparel demand slowed in its aftermath, but cooler temperatures also brought a chill to the industry," said Michael Niemira, ICSC's vice president of research and chief economist. "Despite the setback this past week, retail sales are still up cumulatively over the past three weeks," added Niemira.

ICSC expects that comparable-store sales will increase by between 3 percent and 4 percent for April.